Generally love and read most of your writing, esp when it touches on housing, but this piece misses the mark a bit. Just feels like were stretching here — the fed is battling the worst inflation we've seen in decades. The last time this happened, paul volcker pushed us into a recession to break the back of inflation.The Fed will do the best it can to avoid that but they are working within their mandate, using the tools they have at their disposal.
Generally love and read most of your writing, esp when it touches on housing, but this piece misses the mark a bit. Just feels like were stretching here — the fed is battling the worst inflation we've seen in decades. The last time this happened, paul volcker pushed us into a recession to break the back of inflation.The Fed will do the best it can to avoid that but they are working within their mandate, using the tools they have at their disposal.
Also, the Fed has a dual mandate, not singular (max employment + stable prices, https://www.investopedia.com/articles/investing/100715/breaking-down-federal-reserves-dual-mandate.asp) as you state: "Now as we have been saying time and time again the Federal Reserve has a singular goal."
Thanks Nick, a great read as usual. It feels like a gloomy outlook, but I'm learning a ton. Keep up the great work 👍